Boston, MA, 03/26/2014 (usastockreports)- After years of increased concerns and uncertainties, Boston Scientific Corporation (NYSE:BSX) is finally making its mark in the sales of medical devices. The medical devices maker is currently focused in increasing its sales in the US markets as well as overseas.
The recent resurgence in the market has been attributed to the ongoing growth in emerging markets and as result of maintaining higher margins compared to that of other industry players. The company’s revenue in the emerging markets grew by 30% in the third quarter and continues to show huge potential, for the current year.
Boston scientific to focus on emerging markets
Boston Scientific Corporation (NYSE:BSX) has been making strides to narrow its gap compared to that of the other industry players by essentially focusing on emerging markets. These markets continue to perform extremely well having registered a growth in sales of 9% in 2013 with the growth expected to hit highs of 15% as of 2017.
Boston Scientific is now planning to focus on emerging markets having admitted of treating them as an overthought. Markets in China, South Asia India and Latin America have in the recent past provided a clear pathway for growth in terms of revenue.
Building blocks for growth in emerging markets
Emerging markets can at times present the biggest challenge if caution and the right strategies are not employed. First of all, Boston Scientific will need to hire talented local leaders that are to oversee the day to day operations in the emerging markets.
The company will also need to work with local regulatory agencies in the markets as a way of gaining trust and confidence on the quality and reliability of the medical devices on sale. Some of Boston Scientific’s products doing extremely well in overseas markets include Spyglass Direct Visualization System which was recently launched in China.
Boston Scientific Corporation (NYSE:BSX) continued with the surge momentum in the market, with its stock moving up by 3.27% on Tuesday trading session to close at a high of $13.26.